The contract, which makes the player IGI's brand ambassador, was signed in Abuja just before Friday's Presidential Dinner.
Remi Olowude, IGI's executive vice-chairman, said the choice of the Lokomotive Moscow forward was an easy one: “It was easy for us to choose Mr Odemwingie because IGI and Odemwingie are both super brands in Nigeria's sporting arena,” he explained.
“We settled for Odemwingie because of his reputation, committment and dedication to the Nigerian national team over the years.”
The contract is for three years and KickOffNigeria.com understands that the value to the player is in the region of N15-million to N20-million, although neither party would confirm the figure.
Osaze is expected to be named in Nigeria's final squad of 23 for the World Cup next month.